Effective July 24, 2018, New Mexico adopted the NAIC Credit for Reinsurance Model Regulation. New Mexico adopted the Model Rule as "part of a broad effort to modernize reinsurance regulation and to conform with the Nonadmitted and Reinsurance Reform Act component of Dodd-Frank." The new rule is codified in the New Mexico Administrative Code at 13.2.8 NMAC – Insurance Company Licensing and Operation – Credit for Reinsurance. The Notice of Proposed Rulemaking and the now-adopted rule is linked here.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.